Best Age To Retire To Thailand

[Swiss1960]

If you move to thailand now she cant chase you for child maintenance

Stupid post... child support is not about the woman extorting... it's about the child (to who's "production" the OP played a role...) and about making sure the child can get decent education... I paid 3K+ CHF for my two kids till they were 25 and finished their education... and am proud of their success, their current jobs etc...

[migrant]

In a similar position but married to a Thai Lady here in the states.

I've worked out a budget for us using prices I see each time we go to Thailand. I've factored in a 3% inflation so it gives me a dollar target to shoot for.

I have kids here so our biggest outlay will be trips back to the states.

Maybe work out a budget planning on your extra free time. Don't deceive yourself and put a fudge factor in.

Maybe you can tell I'm a bean counter!!

[Mosha]

Where do you intend to settle? A place well away from tourist spots 100K/month is a very good life style. We are in such a place and even after paying car installments we do ok on 25K. We do get extra when it's not raining (rubber) but not many dry days of late

[bonobo]

Everyone has their own preferences, but for me, given what you have written, 55 seems best as a compromise between age and income. Yes, 100k sounds good, but it doesn't really give you the cushion should you decide to live well, carouse at night, go on vacation, etc.

I have a friend who is coming here at 52 next year and with about 150K per month at age 60. He has about 9 million to tide himself over until then, and as he lives frugally, that should be no problem. Should have been no problem, that is. On his last trip, this marriage-allergic man found a female friend, and he is already talking about sending her to school, buying her a business, etc. Desptie his avowal never to get involved again, it seems he is getting that way. My point is that things change, so even if you plan one way, you can change course later. So I think the 200k is a much better way to go.

[PattayaParent]

Do it as early as you feel you can afford to, but don't sell your property at first,

rent it out so you always have something to go back to if you need to, once you've

lived in Thailand for a few years and your sure it's the place for you then you can sell up in your

older years ie: 60+

Don't burn your bridges!

Until you've lived here you won't know if you'll really like it.

Holidays and living here are very different.

What he said.

Any chance you'd be able to work here in Thailand?

I retired early but then someone wanted to pay me well to live in Thailand so I took the job and will keep working here as long as they keep wanting to give me money.

[expatdreamer]

This thread seems likely to go the way of many, many, many, many 'how much money does it take to live in Thailand' threads. Let's be creative and try not to make it that.

Here are some thoughts for OP.

1. It seems that you have already decided, in your early 40s, that your life is in Thailand (even though you are not). Are you really going to wait 15 years to start 'really' living your life (once you can retire) and use that as a reason to put off any potential living that might distract you in the meantime? I mean, this means that you're going to wait another 10 years before you START looking for a 2nd wife (being at the disadvantage of different country, different language, etc., etc.)- and if you're dating real Thai women they're going to want you to be a husband- and then possibly children- how old will they be when they finish high school?? Because if you're going to have a wife and children before then, you wouldn't want to be moving them across the world. Maybe you're already done with that, but in any case if you're deciding to be here 15 years from now, or potentially almost 20 years from now, are you really going to put your emotional availability on hold that long?!?

2. I'm no psychic, but I'm pretty sure that in 20 years 100K a month isn't going to be all that it used to be, even if it's still better than what many people get.... and this will be just as you're STARTING the older part of retirement, when illnesses and special medical needs all go up, in a country that will probably never have real public health care?

3. On the other hand, no one knows how long they'll live. Maybe you've had some early warning signs about illness telling you to retire sooner rather than later. That would tend to cancel out #1 and #2 to some extent- but you would know best if this were the case or not.

I guess I would recommend, that if you really and truly decided life in Australia (or any other English-speaking country where you could work) was no longer for you, and/or you are troubled by significant early signs of likely terminal illness, you should probably take early retirement, put all the money in the bank, and come over as soon as possible and find a way to keep making a living to pay your monthly expenses until you can retire more comfortably and/or enjoy yourself until the health problems stop you- and then really LIVE here.

On the other hand, if you're not too bothered about living where you are awhile yet, if you're shooting for the maximum safety and security (and financial reward) and your work is enjoyable and you are not experiencing health problems and your family has a history of longevity, I'd say hold out as long as you can. Maybe you'll find out your life happens otherwise while you're making future plans.

Hi and thanks for that. Definitely dont want this to go the way of how much do I need - I know if I really wanted to, I could make it work at 50 and adjust the lifestyle accordingly. You make some very valid points. To answer the easy one, havent had any early health warning signs and given my parents are both well and active, I cant at this point forsee any major issues. But of course things could change.

Putting my emotional availability on hold is a good point, let's just say that my marriage burnt me out a bit emotionally for a number of reasons (as well as burnt me financially), so in some respects my defence mechanism has been to put up the emotional barriers. Perhaps I can summarise by saying I feel I am definitely more in the camp of your last paragraph rather than your second to last paragraph, in that I am not that bothered about living where I am, and although some have suggested retiring at 50, assuming no health problems between now and then, and work does not become intolerable, I think in the end my more risk adverse nature will move me more towards the 55 option and see where we are at that time.

[expatdreamer]

Mosha

I imagine I will settle in Bangkok, but have only been to Bangkok and Pattaya. Want to check out Phuket and Chang Mai next visit. This all assumes I dont end up up-country with a new wife....

[PoorSucker]

Moved here at 38, set up some business and never looked back.

[ludditeman]

If you move to thailand now she cant chase you for child maintenance

Stupid post... child support is not about the woman extorting... it's about the child (to who's "production" the OP played a role...) and about making sure the child can get decent education... I paid 3K+ CHF for my two kids till they were 25 and finished their education... and am proud of their success, their current jobs etc...

If it's not about extorting, please explain why the award depends on the mans income, and not a fixed sum?

I assume all children cost the same amount in the same country.

[expatdreamer]

Do it as early as you feel you can afford to, but don't sell your property at first,

rent it out so you always have something to go back to if you need to, once you've

lived in Thailand for a few years and your sure it's the place for you then you can sell up in your

older years ie: 60+

Don't burn your bridges!

Until you've lived here you won't know if you'll really like it.

Holidays and living here are very different.

What he said.

Any chance you'd be able to work here in Thailand?

I retired early but then someone wanted to pay me well to live in Thailand so I took the job and will keep working here as long as they keep wanting to give me money.

Need to look into this some more but probably unlikely, job is fairly specialised.

[expatdreamer]

Swiss and ludditeman

The amount of child support depends on both the father and mothers income, but if the father is on a good income, it becomes a disincentive for the woman to work, as long as she has majority care. Dont really mind paying knowing that it is only until 18 yo and it is my child - the more heart wrenching thing is going from being a full time dad to a weekend dad - but I wasnt the first and wont be the last.

Ex wife would have got a lot more from me had I stayed married.

To be honest, am somewhat petrified of the relationship laws here now, which is yet anothe reason for me wanting to retire to Thailand - would never get remarried here in Oz (even living together two years without being married here means partner can be entitled to half if the relationship goes pear shaped) - but slightly off topic, apart from the fact that my personal view is that you will see more men moving to SEA to get away from these harsh relationship laws

[KeyserSoze01]

As for the nothing to do bit, fair comment, but after working for 30 years with deadlines and pressure, the doing nothing much but say reading the paper, going for walks along the beach, wondering about what to have for lunch (one of the members said that was their main decision for the day recently on this forum), going out for a drink and perve at night - all kind of sounds pretty appealing to me.

And will be bored to death within a month, especially for someone who has worked under pressure facing deadlines. Been there, done that. The transition is much easier if you have something that is mentally or physically stimulating to give you some purpose. To each their own, but bar-hopping and chasing women also becomes boring after a while.

Sell house now. Australian property is at least 30% overvalues and will fall even further when the US economly finally fails. Australia is very closely tied to the US with over 400 billion of austrlaians money invested in the USA

Buy gold and hold. Maybe some farm land in australia.

Rent.. work until you are 55.

See what the economic situation is by then.. anything could happen. Personally im seeing a large correction between east and west and the value of currencies etc. Commodities are more or less the same price around the world now, only labour and and artificial perception of the value of currency that is different.

+1 Someone else "gets it". Property is an anchor around your neck as it ties you down to a place. Take the same money you are paying into the home and invest it in high yield bonds or equities. Your money will compound faster than waiting until you make the move and then collect rents. Something else to consider are the taxes, interest and maintenance you will pay on the property over time. Just like most things in life, it's cheaper to rent. I have vowed to never own property again as I want to be able to pickup and move anytime I choose, not when I can sell. I have friends who are in that position. They own property they can't sell or rent and have taken serious write-downs in value due to the collapse of the real estate market.

I don't understand those who say keep the property and don't burn your bridges. Selling a piece of real estate is not burning bridges. The only thing that ties you to your homeland are personal relationships, not a plot of dirt with a structure on it.

Edited October 13, 2011 by KeyserSoze01

[Swiss1960]

If you move to thailand now she cant chase you for child maintenance

Stupid post... child support is not about the woman extorting... it's about the child (to who's "production" the OP played a role...) and about making sure the child can get decent education... I paid 3K+ CHF for my two kids till they were 25 and finished their education... and am proud of their success, their current jobs etc...

If it's not about extorting, please explain why the award depends on the mans income, and not a fixed sum?

I assume all children cost the same amount in the same country.

Well, the issue as the courts see it is that the kids have been offered a certain life style and environment during the marriage time. And they ask, why the kids should now suffer from the divorce... few examples:

- they might go to e very good (expensive) school and get a very good education. Why should they now be transferred to a public school that costs less but does / can not not offer the same good education? This of course is true for those countries only where private schools are widely available (i.e. for the US of A, but not for Switzerland... don't know about Australia)

- they might be living in a good environment, have all their friends, school, safe place etc. Why should the suffer, because the woman must move to a cheap apartment, maybe even in a unsafe suburb, change school, loose their friends etc.

We had these discussion during our divorce procedure and I agreed to higher child support but negotiated a very low allowance for my ex... I think we found a win-win situation for the kids - if ever you can speak of win-win in a divorce...

[ludditeman]

If you move to thailand now she cant chase you for child maintenance

Stupid post... child support is not about the woman extorting... it's about the child (to who's "production" the OP played a role...) and about making sure the child can get decent education... I paid 3K+ CHF for my two kids till they were 25 and finished their education... and am proud of their success, their current jobs etc...

If it's not about extorting, please explain why the award depends on the mans income, and not a fixed sum?

I assume all children cost the same amount in the same country.

Well, the issue as the courts see it is that the kids have been offered a certain life style and environment during the marriage time. And they ask, why the kids should now suffer from the divorce... few examples:

- they might go to e very good (expensive) school and get a very good education. Why should they now be transferred to a public school that costs less but does / can not not offer the same good education? This of course is true for those countries only where private schools are widely available (i.e. for the US of A, but not for Switzerland... don't know about Australia)

- they might be living in a good environment, have all their friends, school, safe place etc. Why should the suffer, because the woman must move to a cheap apartment, maybe even in a unsafe suburb, change school, loose their friends etc.

We had these discussion during our divorce procedure and I agreed to higher child support but negotiated a very low allowance for my ex... I think we found a win-win situation for the kids - if ever you can speak of win-win in a divorce...

You are an apologist.

[Sharp]

Option B i tried retiring here early got bored stared work back home then came back later OPTION B Also keep Aus in your back pocket

[PattayaParent]

Do it as early as you feel you can afford to, but don't sell your property at first,

rent it out so you always have something to go back to if you need to, once you've

lived in Thailand for a few years and your sure it's the place for you then you can sell up in your

older years ie: 60+

Don't burn your bridges!

Until you've lived here you won't know if you'll really like it.

Holidays and living here are very different.

What he said.

Any chance you'd be able to work here in Thailand?

I retired early but then someone wanted to pay me well to live in Thailand so I took the job and will keep working here as long as they keep wanting to give me money.

Need to look into this some more but probably unlikely, job is fairly specialised.

Even better, it means a Thai can't do it.

Could you work freelance for multi nationals in Bangkok doing what you do?

Or continue to work 'back home' via the internet?

Edited October 14, 2011 by PattayaParent

[jimbeam1]

Only you really know when the time is right for you.

It would seem that if anything, later your parents could be an issue. For me when I discovered Thailand. My children were already grown up and leading their own lives, I had already lost my father. I have a brother who is about as much use as a chocolate fire guard, so stayed to look after mum. When she went, I only then felt that I could retire peacefully to Thailand, at age 58. Obviously everyone has their own idea of what is best. But the only thing that I would really stress as others have said, is never ever give up all your property in your home country. Even if it means selling one property to buy a smaller one.

jbb1

[expatdreamer]

Hi

Just wanted to thank everyone that has contributed. You have provided me with some useful food for thought and it has certainly helped me to crystallise my thoughts. I feel fortunate to have found Thailand at the age that I did. I could just have easily got remarried in this country, and at 50 end up divorced (again) with very little and not even have the slightest chance of retiring early, let alone retiring overseas with a reasonable lifestyle.

I will look into the job situation in Thailand, but still feel I should be here for now to see my child grow up and become an adult, and spend time with my parents whilst they are still in good heatlh.

Overall Option B is looking most likely, which seems to be what most are leaning towards. Option A would only be taken up if I got to the point that either I absolutely hated my job, I lost the job and couldnt get another, or started having some health problems. Option C is an outside chance, and would need a lot of things to line up (loving the job, in excellent health, etc). So my view is I will just buckle down for the next few years, sock away the cash, and look forward to my retirement. Thailand to me is a bit like a light at the end of the tunnel. And of course, in a few years time, it may not be Thailand, but another country in SE Asia or elsewhere, but more than likely Thailand unless there are some very significant changes that affect Farang there in the future. For me it is not about the women (although that is a nice fringe benefit), but rather about having a relaxed low cost of living, feeling almost like one is on an extended holiday, and reaping the rewards of all that hard work during ones career.

To those already there and in that enviable postion, my hat goes off to you. Enjoy!

Thanks.

PS to Jim Beam, I have a more than competent sibling that can look after very elderly or frail parents if necessary, but I do want to enjoy time with them now whislt they are in good health

Edited October 14, 2011 by expatdreamer

[londoedan]

A age 50

Time to get a new wife, have a new family, and see them through uni.

You get a much better choice of woman if you are prepared to breed with them.

Bonus

New young wife and new kids will really piss off the ex.

Thanks ludditeman, and there I was thinking about getting the snip soon. If I get the snip, does that really narrow down my choices should I want a new wife.

It restricts you to 40+ women or women who have 3 children already, cos the girls here ALL want at least 2 children.

Although IMHO no woman is ever really yours until you have had children with her, so no children with them = no real commitment from them.

There are a lot of people here that will disagree with me BUT, all the guys I know who have had the snip have become, sort of, soft.

Hard to describe but they no longer seem manly, might be a psychological effect on them, but I think it's physical.

^ What a load of crap !

Anyway to the OP, I'm 48 and plan to retire in the next year or two and live on less that 100K a year. I tried it for a year when I was 46 and found, for me, between 60 and 70 was easily enough. When I was going to the gym a lot, and not going out to the bars so much, I could almost get by on 30K per month, not including rent. I don't tend to eat a lot of 'western' type food though - mostly Thai food with the odd English breakfast.

If your from OZ, have you thought about Bali ? Its slightly pricier but IMHO a bit nicer. Visa's are a bit of a hassle though.

Simon

[nong38]

I was already past 60 when I first saw the possibilities here and being prepared or having the time to so is vital. I met so many people at work who wanted to do one more year to be sure, it was always one more year! No one can forecast the future and what way monies will go and be worth, just make your best guess and hegde it a bit. As Ian Forbes says it will depend on your life style and where you intend to go. I am not in a tourist centre, been there and done that, I am happy where I am, can be in tourist centre in a few hours if required,so, I live where its not "tourist prices." I live comfortably on 28000bts a month, have a g/f who knows the financial score is happy with the situation. I will have much more in a few years time as well, I have prepared as you must do. I will say this to you, ladies can be expensive if they work in bars so think what you are looking for in that direction, they will empty your coffers quicker than you think, so you think about that situation. Keep your options open in case you think this is not for you. Interest rates are poor at the moment and for some time to come so do count on interest rate cash, let it be a bonus.

Finally, dont wait any longer than you need to, treat everyday as your last because one day you're going to be right.

[nong38]

On no account sell your house back home.

With the current economic crisis, inflation has to come.

Money in property has to be the safest bet.

Also, if life in LOS goes pear shaped you have somewhere to go back to.

Cant say fairer than that, more good advice for you, property prices will improve and inflation is bound to come, how will you handle that? Time to think.

[RickThai]

If I were you, I'd ask myself this question?

What do I want to accomplish during the remainder of my life?

If your goal is just to be a self-indulgent, sex-patriate, then I would think, "the sooner the better".

However, if you desire a fuller, richer life, with more meaning, then I would think about other options before selling everything off and heading to Thailand.

Only you can answer that question.

Chok dee (Good luck),

RickThai

[Angel1993]

At age 50, you'll be old but with 100,000 baht a month life will be very comfortable.

If you like my country, why wait until you are an old man to move here?

.

[londoedan]

At age 50, you'll be old.

Theres honesty for you !

I'm 48 and I was thinking (hoping) 50 was the new 40 !

Nevermind - I still reckon 35 to 59.9999 is middle-aged, now 60 is old

Simon

[Ulysses G.]

What do I want to accomplish during the remainder of my life?

If your goal is just to be a self-indulgent, sex-patriate, then I would think, "the sooner the better".

Yipee.

[Tolley]

I think 55 would be the best option but if you are basing your income on current exchange rates then i dont think they are realistic for the Aussie dollar.

Aussie dollar is abnormally high at the moment and that may not continue.

It is important not to sell property in Oz far better to rent in Thailand and keep your property in Oz as more than likely when you are really old you will want to return.

The other thing of course is how you will fulfil your time in Thailand?

[barryofthailand]

Age 55 in my opinion is a good age as long as you can afford to sustain yourself until you get a pension which in most cases is not enough. Continue to holiday in Thailand. Travel the country when you get time. Most people planning to retire in Thailand choose either Bangkok or Pattaya which is not a good indication of life in Thailand. Your young, and i presume in good health, so their is really no hurry to retire. One huge thing to be aware of is the exchange rates which for the past few years has been volatile.

Barry

[CaptHaddock]

Expatdreamer,

I'll add a word of caution. Your income estimates don't have any error bounds. At age 50 you have to plan for a retirement life of 35 or 40 years, or maybe more. When you project a trajectory that far into the future the error bounds become enormous. Another way of observing this is by running simulations of retirement income and spending using software tools. When I do that, tweaking investment return rates, inflation and other variables, I notice that the result is almost always one of two outcomes: I end up with more money than I retired with or I end up old and broke. Now in reality we won't actually just set a long-term budget and cross our fingers. We'll make adjustments along the way which might even include relocating. It is also well to keep in mind that you and I and everyone else are amateurs at making and executing long-range retirement spending plans. We've never done it before and we only get one chance to get it right. Can we really bet the farm on getting the right the first time?

In my opinion retirement planning is like making medical choices: the goal is to minimize the risk of maximum loss. So, at all costs, I do not want to end up old and poor and probably sick. From this point of view saving all my life and then dropping dead the day before getting on the plane to Thailand is not failure, but an unfortunate kind of success. Others, including many posters here, disagree completely: the eat-drink-and-be-merry-for-tomorrow-we-die school of thought. I wish them every success, but I am not persuaded. I gather you don't belong in that comp either.

So, my advice would be not to cut it too close on the budget. In addition, to the large variances in income and spending that may result along with inflation itself, you will have to cope with exchange rate risk which is liable to be the largest factor of all. The available solutions to exchange rate risk all come with substantial risks of their own.

That said, I planned my retirement for decades in advance, targeted Thailand five years ago, and began my retirement here in August at age 62. I started learning the Thai language well in advance of arrival and advise you to consider doing so also. Being able to communicate will make a world of difference.

At any rate, best of luck with whatever decision you make.

[Kananga]

That said, I planned my retirement for decades in advance, targeted Thailand five years ago, and began my retirement here in August at age 62. I started learning the Thai language well in advance of arrival and advise you to consider doing so also. Being able to communicate will make a world of difference.

At any rate, best of luck with whatever decision you make.

Seems like you have your head screwed on far tighter than some of the other useless numpties round here without a pot to piss in. Sound advice indeed and great attitude to embracing Thailand by learning the language in advance.

[TallGuyJohninBKK]

On no account sell your house back home.

With the current economic crisis, inflation has to come.

Money in property has to be the safest bet.

Also, if life in LOS goes pear shaped you have somewhere to go back to.

I think you're over-generalizing, Astral...when you say money in property has to be the safest bet.

In my situation, I made the decision to move at age 47 and made the move here at 48....

When I sold my house in California in a few years back, I made about a 100% profit on my original purchase about a decade earlier... That has largely subsidized by happy early retirement here.

If I had waited just another year or any year right up through today, I'd be lucky to be able to sell my CA house for the amount I had originally paid for it... and wouldn't have gained the substantial profit that has enabled everything else.

And, if I ever had to move back now, I could easily obtain housing for far less than what I would have paid year ago....or even pay far less per month starting anew now compared to if I had kept ownership of my original house and continued my prior mortgage.

I'd be one sorry sop right now if I had decided to hold onto ownership of my house and put off my planned move to Thailand because I was only 48 at the time. If I had waited until 49 or 50, I wouldn't be here at all, and I'd still be slaving away back in the States.

Edited October 16, 2011 by TallGuyJohninBKK